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Ripple Is Not Making Any Announcement for a Reason

1 week ago 123 views

It’s been quite a long time since Ripple (XRP) has made any announcement. There are news of many partnerships but the company is quick to deny any kind of major partnership announcement. The last announcement form the company side was made by Santander on 12th April when it was using Ripple’s international money transfers payment platform xCurrenty.

So What Else Is Known to the World?

It is clear that Ripple has partnered with around 100 banks of the world out of which 40–50 are central banks. The CEO of Ripple, Brad Garlinghouse, said in a Bloomberg interview that he has lost the exact number of partnerships made by them. He would make an announcement only after they have crossed the number of 200.

It is also a known fact that the Ripple products are cost effective. To back that, we have recent test results of xRapid. These solutions by Ripple not only save money but time too. They reduce multiple bank transactions to a 2-minute job. And this payment solution saves between 40-70 percent on foreign exchange broker fees for the financial institutions.

Out of the 100 partnerships, Western Union and Moneygram are the known partners of Ripple. It is a known fact that they intend to use xRapid. In fact, the recent tests on payment platform were quite likely carried out for these 2 institutions only because the tests were carried out between the US and Mexico. Now, the possibility of individuals transferring money out of US is quite less. Thus, it being for Moneygram and Western Union makes more sense.

Ripple has always been known for its superior technology when it comes to cross border payments. Apart from xRapid, their products include xVia and xCurrent.

Why This Silence?

The logical explanation is that the company is preparing for a major announcement anytime soon. And they want people to be in anticipation. But what will it be? Well that is information nobody is privy to.